From my experience, Mercon-V ATF is fine. It is a Synthetic blend and is readily available in generic form.
It is said that Tremec used Mobil-1 Synthetic ATF when developing the TR3650.
I believe that Tremec only suggested the Synchromesh fluid for a short time before taking it away from the recommended fluid list.
"Pennzoil for Synchromesh Manual Transmissions" is found in the gear oil section of the parts stores that carry it. It does seem to work. It is basically a thin version of gear oil and is old technology. Thus it breaks down quicker than the other preferred ATF fluids. Being thicker, it may help quiet loose bearings that are making noise. I know of no performance advantage to using it. CHANGE IT OFTEN if this is your preference.
I DON'T LIKE Synchromesh in a TR3650 because those that I have torn down that have used this fluid have been totally coated with a black sooty, carbon layer that makes the entire inside of the transmission black as a diesel engine. Those that have used the prescribed ATF open up and are clean inside unless the owner simply never ever changed the fluid.
I personally recommend the Mercon-V (Synthetic Blend) or the Mobil-1 (Full Synthetic).
Any complaints I have heard about heat from a transmission has always come down to a damaged rubber seal between the shifter and the floorboard which allowed hot air to enter.
People tend to leave them off for various reasons. One is that it may not fit the aftermarket shifter very well. The decorative shifter boot will not hold back the heat...
Stan